• Cable has traded a 28 pip range thus far Monday; 1.3360-1.3388

• 1.3388 was also the London and New York session high on Friday

• Support levels include 1.3355 (Thursday low), 1.3335 and 1.3300

• Mindful of the markets, UK's Healey is set to deliver a careful budget Wednesday

• CFTC data: net GBP short fell 20% from 9-year high to 80,420 in week to Oct 20

• Short-covering helped inflate GBP/USD from 1.3137 to 1.3418 (Oct 14-22)

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(Robert Howard is a Reuters market analyst. The views expressed are his own)